According to Zacks, “Intevac, Inc. is a leading supplier of static sputtering systems and related manufacturing equipment used to manufacture thin-film disks for computer hard disk drives. Sputtering is a complex vacuum deposition process used to deposit multiple thin-film layers on a disk. The company’s primary objective is to be the industry leader in supplying disk sputtering equipment by providing disk sputtering systems which have both the highest overall performance and the lowest cost of ownership in the industry. “
Separately, B. Riley upgraded shares of Intevac from a neutral rating to a buy rating and raised their price objective for the company from $5.50 to $7.00 in a research note on Tuesday, July 30th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $6.42.
Intevac (NASDAQ:IVAC) last announced its quarterly earnings data on Monday, July 29th. The electronics maker reported ($0.05) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.04. Intevac had a net margin of 5.41% and a negative return on equity of 3.16%. The firm had revenue of $22.31 million during the quarter, compared to analysts’ expectations of $20.50 million. During the same quarter last year, the business earned ($0.01) earnings per share.
A number of institutional investors and hedge funds have recently made changes to their positions in IVAC. Alambic Investment Management L.P. acquired a new position in Intevac during the first quarter worth about $660,000. Bank of America Corp DE raised its position in Intevac by 370.0% during the fourth quarter. Bank of America Corp DE now owns 94,000 shares of the electronics maker’s stock worth $492,000 after acquiring an additional 74,000 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Intevac by 3.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,373,726 shares of the electronics maker’s stock worth $7,185,000 after acquiring an additional 41,331 shares during the last quarter. Hillsdale Investment Management Inc. raised its position in Intevac by 24.6% during the second quarter. Hillsdale Investment Management Inc. now owns 125,415 shares of the electronics maker’s stock worth $607,000 after acquiring an additional 24,800 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. raised its position in Intevac by 98.6% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 38,642 shares of the electronics maker’s stock worth $202,000 after acquiring an additional 19,189 shares during the last quarter. Institutional investors own 64.92% of the company’s stock.
Intevac Company Profile
Intevac, Inc provides vacuum deposition equipment for various thin-film applications, and digital night-vision technologies and products to the defense industry in the United States, Asia, Europe, and internationally. The company operates through two segments, Thin-Film Equipment and Photonics. The Thin-Film Equipment segment designs and develops thin-film processing systems that are applied in hard disk drive media, display cover panel, and solar photovoltaic markets.
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